PMSI Flashcards
1
Q
There is can only be a PSMI in
A
Good or software
2
Q
A Lender PSMI
A
is when the lender give money that purchases the collateral directly and the lender takes an SI in that collateral
3
Q
A seller PSMI
A
goods bought on credit, seller takes SI in goods
4
Q
In Virginia,
A
Except for the sale of cars or open end credit plan
A seller of consumer goods cannot take any SI in property other than the goods sold
